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WETA
Dec 31, 2012 6:30pm EST
. i'm susie gharib. with just hours to go a deal emerges to avert the fiscal cliff, but can congress pass the measure in time? president obama says they can, we've got the latest from washington, on what could happen before the new year's day deadline. and wall street ends the year with a rally and healthy gains. s&p strategist sam stovall joins us with where he sees stocks headed in 2013. that and more tonight on "n.b.r."! washington lawmakers are getting close to a fiscal cliff deal, but they might not get it done before the midnight deadline tonight. the senate could vote in time, but it's possible the house will wait until tuesday. that means the u.s. could go over the fiscal cliff. on wall street today, investors bought up stocks on high hopes of deal, after president obama said this afternoon a deal is "in sight," and positive comments from republican leaders in the senate. here's how e major averagesr closed on this last trading day of 2012. the dow surged 166 points, the nasdaq jumped about 60, and the s&p rose almost 24 points. while wall street has already closed the books
FOX Business
Dec 31, 2012 5:00pm EST
needs to get, to go along wiih some kind of a deal in order to avoid going over the fiscal cliff. i'm not sure what his political point there but you substantialively --. adam: i have to go to scott. you get 20 seconds, then i'm giving kim because she is the small business owner last word. scott, any words of advice? they have to do something. they haven't done it yet. >> i go up and stock up on studebakers and yugos. watch out for the stock market here in 2013. a lot of things at play aside from a slowing economy. i think it will be really bum , man. adam: kim, you get the last word. what would you say to congress, not the president but congress, what they should do later tonight and this week? >> first off i would have made a decision a long time ago. we had two years to this problem. this problem should have been solved months ago. politicking should have been set aside. we should have got something done. people should not have gone home for thanksgiving. i don't understand if they're representing us as business owners why they can't act like us and make decisions like us. we have
KRON
Dec 30, 2012 11:00pm PST
the 11th hour and still no fiscal cliff deal on the table. when we return. we take a look at lawmakers final push to beat the new years deadline for a compromise. ♪ [ female announcer ] no more paper coupons. no more paper lists. [ dog barking ] ♪ no more paper anything. safeway presents just for u. ♪ save more. save easier. saving more, starts now. just for u on the safeway app. >>> another day gone and still no deal on the fiscal cliff. if nothing is done by midnight monday, mandatory tax hikes and spending cuts will kick in, impacting every american. senate majority leader harry reid says while negotiations are on-going, the senate will not vote on any plan this evening. elizabeth corridan is monitoring the situation from washington, d-c. >> reporter: >> as >> as we gather with so much, we need to guide our lawmakers with your wisdom. this evening. >> reporter: the senate will reconvene monday morning, at which point there will be just over 12-hours until the u.s. goes over the fiscal cliff. the senate convened its rare sunday session with a prayer for progress. the
CNN
Dec 31, 2012 11:00am PST
headquarters in atlanta. and as i speak, in deal yet on the fiscal cliff, but a big but, it appears lawmakers may be getting just a bit closer. >> and i'm joe johns live from washington where just moments ago the president encouraged lawmakers to cross the finish line. it was a compromise u.s. lawmakers signed into law in 2011 that contributed to the pending man made catastrophe that they have been warning about for more than a year. now, as the new year's deadline approaches, the fiscal cliff may be moving to a later date, in 2013. it is part of a possible deal that is forming at this hour. this, of course, represents the $3.6 trillion the u.s. government spent last year, unless congress reaches a deal when the new year hits. so too will the fiscal cliff. $600 billion worth of tax increases and spending cuts. it is supposed to be automatic. but now republicans are suggesting a delay, the president just spoke trying to add pressure to congress to avoid going over the fiscal cliff. listen. >> my preference would have been to solve all these problems in the context of a larger agreement, a bigg
PBS
Dec 30, 2012 6:00pm PST
was 10%. if this good deal -- the fiscal could deal -- the fiscal cliff deal. you think during their well- earned christmas break, both sides would find a way to come together and do something. >> this is not the fault of congress. congress is behaving like congress. this is the president's fault here the president needs to go to the country and explain why they need to get this done. he has never done this. >> i have heard him talk about it over and over incessantly about why we have to avoid the fiscal clip. it is the fault of congress. they created this fiscal cliff. they did it. no one else imposed this on them. >> the president has never gone to the nation and made a serious speech about dt. he ignored it the first two years. he appoints a commission that he studiously ignores for the next two years. that is why we are at the clip now. he is not serious about the debt. none of his proposals to raise taxes on the rich. he has never put any political capital in entitlement reform our tax reform. he'll talk about it here and there. never invested any capital in it. >> any differenc
CNBC
Dec 30, 2012 7:30pm EST
not been great so far. it will matter quite a bit whether or not they are able to get a fiscal cliff deal done in the near future. somebody clears the decks to do other things, things that might not be quite as either controversial or may not matter as much to the economy. so if you have a long fight over immigration, that's not a great thing but it's better than having a fight that leads to a debt ceiling default. the question is whether or not they are able to move past this in a way that allows for making agreements going forward or whether or not we end up in the essentially endless series of smaller fiscal cliffs this year. things get pushed forward for two weeks, two months, three months at a time and another debt ceiling in early 2013. if that's the case, there's going to be a lot more uncertainty and the structure will be there a lot more, very angry, a lot more tense, a lot more bitter, 11th hour negotiations going forward. >> mike, what sectors or areas are you watching in 2013? >> i think what's interesting is that the housing revival has obviously been embraced by wall street. a lo
FOX Business
Dec 31, 2012 1:00pm EST
the fiscal cliff. this is just act one. then we deal with the dead ceiling. this was just the idea of an opening bid, if you will. i think it will be good news for the market if a deal like this were enacted. shibani: you are talking about the markets. i want to ask you about their role in getting to this point. we have seen steep declines. multi- hundred point the kleins in some instances, we have not been met in this case. is this part of the reason we are in this position? >> well, you know, the last two weeks have been pretty brutal for the markets. i think that has been kind of the lead up for this current situation we are in. who knows where the market is going. i do think there will be a big sigh of relief if we get a deal today or tomorrow. i think the markets will celebrate, later this week. there is about 15 or 20 movable pieces in this puzzle. what are we going to do about that empty void that what are we going to do about medicare? there are so many pieces we do not know what the final deal will look like. i think john boehner, there was a lot of scuttle about three or fou
CNBC
Dec 31, 2012 3:00pm EST
go full speed over the fiscal cliff if we get this deal. does he like it or not? he'll join us coming up. much more to come. don't go anywhere. [ male announcer ] how do you trade? with scottrader streaming quotes, any way you want. fully customize it for your trading process -- from thought to trade, on every screen. and all in real time. which makes it just like having your own trading floor, right at your fingertips. [ rodger ] at scottrade, seven dollar trades are just the start. try our easy-to-use scottrader streaming quotes. it's another reason more investors are saying... [ all ] i'm with scottrade. when the doctor told me that i could smoke for the first week... i'm like...yeah, ok... little did i know that one week later i wasn't smoking. [ male announcer ] along with support, chantix is proven to help people quit smoking. it reduces the urge to smoke. some people had changes in behavior, thinking or mood, hostility, agitation, depressed mood and suicidal thoughts or actions while taking or after stopping chantix. if you notice any of these stop taking chantix and cal
KOFY
Dec 31, 2012 11:30am PST
obama just having spoken from the white house on the boss built of a fiscal cliff deal. one that could avoid -- raising taxes for everyone. good morning i'm kristen sze >>> and i'm cheryl jennings. katie is the news encouraging? >> reporter: more pressure than news about what the deal might be. this was not the big announcement about an agreement on the fiscal cliff. the president did acknowledge there's been progress and he spoke while surrounded by americans who he pointed out cannot afford a tax hike. a source close to the negotiations we know what might be on the table now this current tenty deal. one, as far as tax hikes are involved -- republican and democrats have agreed taxes would not go up for families that make less than $450,000 a year or individuals who make less than $400,000 a year. as far as unemployment benefits that's could be extended. the president mentioned tuition tax credit extended. where there's still a great divide is automatic spending cuts. the deal on table brokered mostly by mcconnell and biden overnight, would delay those spending cuts for three months. s
CNBC
Dec 31, 2012 2:00pm EST
to a fiscal cliff deal. the latest word is that they are negotiating over the exact amount where taxes will rise, 450, maybe 550, maybe in the middle at 500 but the president did throw a barb out there saying if the republicans think we are done with tax revenue and spending cut discussion, they have another thing coming. welcome to final "street signs" of 2012. and if things don't go well, maybe the final "street signs" ever. just kidding. just ten hours left in this year in washington and ten years until we fall off the fiscal cliff. can we get it done? >> working the phones day and night, let's goat john harwood in washington. lots and lots of headlines, fill us in. >> the latest mandy is that negotiations agreed on the middle class portion of the tax cuts. these are talks between biden and mcconnell. what they agreed to is 39%, 39.6, rather, of individuals over $400,000 in income. married couples above $450,000. estate tax to 40% for estates over $5 million p.m. and rise in dividend rates. can they resolve the disagreement offer spending cuts? democrats are resisting. they wa
CSPAN
Dec 31, 2012 3:30pm EST
that no deal is better than a bad deal, but in the case of the fiscal cliff, no deal is the worst deal because the government will go over the fiscal cliff and will take almost every american with us. almost every family that pays taxes now will pay higher taxes. people's jobs will immediately be put in jeopardy, unemployment compensation will end for more than 2 million people, our defenses will be decimated by cuts that will put us in a position of accepting really unacceptable risks to our security, title 1 programs of education for low-income children will be cut dramatically, most people, including the congressional budget office, our own congressional budget office, say that the combination of tax increases along with the decreased spending required under the budget control act will push our economy back into recession in the new year. so i don't agree that no deal is better than a bad deal. in this case, i repeat, no deal is the worst deal because it allows our country to go over the fiscal cliff and really hurts almost every american family in our country, in our economy,
PBS
Dec 31, 2012 3:00pm PST
street rallied on the final trading day of the year, hoping for a fiscal cliff deal. the dow jones industrial average gained 166 points to close at 13,104, up 7% for the year. the nasdaq rose 59 points to close at 3019, up nearly 16% this year. nearly two dozen people died in a string of attacks across iraq today. most of the violence targeted shiite communities and police. one of the blasts rocked baghdad's karrada neighborhood, sending smoke billowing above the skyline. the car bomb went off near a tent where shiite pilgrims were gathering. five people were killed there. in syria, elite troops, along with tanks, battled to dislodge rebels from a key southern suburb of damascus. the area is within firing distance of major government sites in the capital. amateur video also showed the aftermath of what appeared to be air strikes in the northeastern suburb of douma. the attacks toppled buildings and sent civilians fleeing. celebrations began today as the new year, 2013, dawned around the globe. we have a report from richard pallot of independent television news. . >> here we go! >>
FOX Business
Dec 31, 2012 4:00pm EST
bad at all. all eyes on the approaching fiscal cliff with just under eight hours left to make a deal. we've got you covered from capitol hill, we're going to be speaking live with congressmen from both sides of the aisle, representative tim hulz camp, mick mulvaney and dennis kucinich. david: also wilbur ross, chairman and ceo of -- [inaudible] and the former chairman of the white house council of economic advisers. i tell you, we get the prime guests right here. ed lazear says tax hikes hurt growth. find out just how much. liz: rich edson live on capitol hill with the very latest on the fiscal cliff countdown. larry shover live in the pits of the cme, and what action we saw, wow, and we've got more than $100 billion worth of advice from our market panel, bill greiner and sandy lincoln. but first, let's talk to rich edson and, rich, you know, you're looking at a situation at the moment where you have the president saying we're close, but no deal. you have senator mitch mcconnell on the republican side saying close, but no deal. leads me to ask, what about joe biden? our vice president? he's
CBS
Dec 31, 2012 6:00pm EST
: wall street rallied on the final trading day of the year, hoping for a fiscal cliff deal. the dow jones industrial average gained 166 points to close at 13,104, up 7% for the year. the nasdaq rose 59 points to close at 3019, up nearly 16% this year. nearly two dozen people died in a string of attacks across iraq today. most of the violence targeted shiite communities and police. one of the blasts rocked baghdad's karrada neighborhood, sending smoke billowing above the skyline. the car bomb went off near a tent where shiite pilgrims were gathering. five people were killed there. in syria, elite troops, along with tanks, battled to dislodge rebels from a key southern suburb of damascus. the area is within firing distance of major government sites in the capital. amateur video also showed the aftermath of what appeared to be air strikes in the northeastern suburb of douma. the attacks toppled buildings and sent civilians fleeing. celebrations began today as the new year, 2013, dawned around the globe. we have a report from richard pallot of independent television news. . >> here we g
FOX
Dec 31, 2012 5:00am EST
, something can be reached, some sort of a deal to avoid the fiscal cliff as lawmakers continued to work on this. it is a chilly new year's eve out there. good morning. i'm sarah simmons i'm wisdom martin. welcome to fox 5 morning news. chilly indeed. let's bring in tucker barnes again to talk about it. >> is it new year's eve already? >> time is flying by, man. >> you're questioning it -- >> i feel like it is still the night before. >> no, it is officially the 31st. it's just our life, you know. >> yeah, kind of sad. >> let's get to the temperatures. it got cold. it was cold yesterday but at least the wind have let up. 30 at reagan national. 4 at dulles. bwi marshall, 29. we should warm up in the mid- 40s today. the clouds will increase tonight but we are not expecting any rain and/or snow shower activity. there is a better chance we'll see one or two tomorrow. the pattern generally going to be try. there is your satellite-radar. some storminess out to the west but well out to the west. you can see there is plenty of clouds out to the west. we'll see the clouds but won't see the st
CNN
Dec 31, 2012 1:00am PST
avert falling over the fiscal cliff. senate leaders need to put something together to avoid tax increases for just about everyone and big spending cuts. senator claire mccaskill says a make or brake deal comes down to a few lawmakers on topic of raising taxes for the wealthy. >> it remains to be scene whether the republicans being driven by a very extreme group of house members will allow our economy to pert because of their desire to protect multimillionaires in this country. that's what it's going to boil down to. >> any plan would need house speaker john baner to bring it to the floor for a vote. republican representative tom cole says he's confident that boehner can get the votes he needs. >> on the speaker's plan, he had over 200 republican votes, it's not as if he had an awfully strong hand to play, if it's a deal john boehner can accept, it will be passed in a bipartisan manner with a very strong majority. if on the other hand he's neutral or not favorable, his chances will be a lot slimmer. >> lisa desjardins following the fiscal cliff negotiations on capitol hill. do you have any good news for us, lisa? >> reporter: the news is a little better than it was earlier today. we know neg
FOX
Dec 31, 2012 6:00am EST
leaders are set to get back to work as they have yet to strike a deal on that fiscal cliff. now, the deadline is now less than 24 hours away but the white house and congress still remain at odds over key issues such as creating an income threshold for raising taxes. president obama says gop leaders have rejected his proposals to make a comprehensive deal. republicans say they are willing to work together. so what does this mean for you? coming up in the next hour, we'll talk live with congressman jerry connelly and congressman phil roe for a closer look at the looming deadline. >>> still ahead this hour, secretary of state hillary clinton hospitalized. we'll have an update on her condition. we'll be right back. (vo) sometimes the big plan doesn't work. and the perfect life turns out to be not so perfect. you start fresh. new city. new job. new everything. it's exciting, and scary, at the same time. and some days you think, "i can't do this on my own." but then...i went to suntrust. they helped me figure things out. and before you know it, i am doing it... (anncr) at suntrust, he
CNN
Dec 31, 2012 4:00am PST
fiscal cliff. can the closers reach a deal in time? >>> if we go over the cliff, you will feel it right away. what happens to your paycheck, and when. i'll explain that ahead. >>> a packed two hours ahead. talking with grover norquist. he is the president of americans for tax reform. jason chaff et cetera, chris van hollen, and johnny isaacson. >> that's a stacked show. >> soledad is off. "starting point" begins right now. >>> our starting point, a health scare for secretary of state hillary clinton. doctors discovered a blood clot in a followup exam related to her concussion. the location of the clot has not yet been disclosed, but clinton treated with antikanticoagulant. jill dougherty, live in our washington bureau. what are you hearing? >> not a lot. since that statement sunday night, sanjay. they are really saying -- as you said, they are monitoring, and here is the statement so you can listen to exactly what they said. that her doctors are going to continue to assess her condition, including other issues associated with her concussion. because after all this happened as a result t
FOX News
Dec 31, 2012 6:00am PST
, where do the things stand in the fiscal cliff talks at this critical late-stage? >> reporter: gregg, there seems to be some hope that conversations between vice president joe biden and senator mitch mcconnell can produce a deal. aides say the two men spoke multiple times last night and will continue working toward a solution. mcconnell called the vice. president bush: after weighing 18 hours from senate majority leader harry reid who seemed to throw in the towel. >> there is still significant difference between two sides and negotiations continue. there is still time left to reach an agreement and we intend to continue negotiations. >> reporter: a big issue is what thresh do you continue the bush tax cuts. the democrats latest proposal, extend expiring tax rates for individuals with taxable income up to $360,000. and couples with income of about $450,000. senate republicans latest proposal allah taxes to rise on $450,000 for individuals and 550,000 for couples. republican aides say the democrats in the senate have not made any additional offers since saturday afternoon. gregg: what is going on the house side of the capitol? >> reporter: the attitude they have been doing their work all year long. they have been pass
FOX News
Dec 30, 2012 7:00pm PST
making remarks about the fiscal cliff aired it earlier today. he put much of the blame on shoulders of the republicans if no deal is reached. the gop fired back saying the president should lead right now not cast blame. correspondent s henry is live from the white house. >> he is frustrated going on a talk show today in the middle of the negotiations. he has not been on one of the programs since 2009. he felt it was important to get the message out there. you are right he was pounding the same message again and again f. we go up the fiscal cliff for not meeting them halfway. >>> not because democrats and congre congre congress don't want to go ahead and cooperate but i think it has been hard for speaker boehner and republican mcconnell to accept the fact taxes on wealthiest should go up a little bit sweas well as a deficit reduction package. if they can't say yes to good offers i have an obligation to make sure the entire burden of deficit reduction doesn't fall on seniors who are relying on medicare. >> republicans are expressing frustration saying the president is trying to put the blame on them for going off the
MSNBC
Dec 31, 2012 4:00am PST
. >> we're also on fantasy island if we think a real deal to avoid the fiscal cliff can happen in the next couple of hours. let me bring chuck todd in. and dan, i loved when you were talking and ed rendell went like this, and you pushed him hand down and continued talking. that was effective. >> maybe they should do that. >> chuck todd. chuck. >> look, you know, the irony to all this is i think when you look at the deal that's about to be struck, if it happens between mcconnell and biden, it's pretty clear that the white house and mcconnell would have gotten this deal done if they were the two negotiating partners. mitch mcconnell. look where they're coming around on. when boehner decided to halt the talks and go toward his plan "b," they were upset because they thought the white house should be coming up another $100 billion, $150 billion on spending cuts. what i never understood is why stop the talks right then? if you believed you were close, the white house at $400,000, boehner at $1 million, they stopped trading proposals. boehner decided not to do that. now, i think there's clea
ABC
Dec 31, 2012 6:30am EST
president are going to stop the nation from going over the fiscal cliff. without a deal, taxes are set to go up on about every american. >> reporter: talks continue but this morning, still no deal. republicans and democrats nee gobuated all weekend, with the hope of passing legislation that would protect most people from a massive tax hike, set to kick in type at midnight. our top priority is make sure taxes on middle class families don't go up to hurt the economy badly. >> reporter: optimism about a deal over the weekend, when the republican leader in the senate made an offer, that all ended when senate majority leader said he couldn't present a counter proposal, in a hail mary, he phoned for help. >> i placed a call to the vice president to see if he could jump start the negotiations on his side. i'm willing to get this done. i need a dance partner. >> reporter: white house officials say vice president biden is now playing a direct role in the talks. the two partys remain at odds over the automatic across the board cuts to government programs and defense set to go in to effect and di
CNBC
Dec 31, 2012 6:00am EST
talking about all this. as we said, we are about to go over the fiscal cliff. if a deal is not reached to avoid the fiscal cli by january 2nd, automatic domestic and military spending cuts will kick in and the pentagon will be forced to cut $9 million in spending. >> if lawmakers can't avoid the fiscal cliff, they may be able to avoid a different cliff, the dairy cliff. house and senate members appear likely to extend farm legislation for a year, a deal that would keep milk prices skyrocketing in january. we were worried about $6 gallon of milk. it could keep a decades old subsidy from coming back to life. the usda would be forced to buy milk at prices well above what farmers were getting now if the subsidy was revived. it could double the price of moib to $6.12 a gallon. >> markets have been reacting to each move on capitol hill, but obviously, things at this point are looking like the dow would open down by about 7.5 points. the dow is off 67 points and the nasdaq is down 14.75 points. all the surprised given the late hour that -- >> even if something doesn't happen today, it
FOX
Dec 31, 2012 6:00am EST
still no deal on apitol hill regarding the so called 'fiscal cliff'... and today is the deadline for reee marsh s live nowwin good morning, rene. story.3 ountdown on new years eve is tradition -- but today that countdown is different and comes with major consequences. we are own to the final hours..this new year's eve the conversation isn't just bout champagnn. americans are wondering, can congress save the country from work in óóó hours. senators - went home lass night without packageebut negotiationssare ongoing. senate miiority leader mitcc mcconnell and vice president biden arr cruuial to the talks right now. negotiattons hit a standstill yesterday. mcconnell called in bidennwho he served in the senaae with for more than two decades. --sot: sen. mitch mcconnell, (r) minorriy leaaer-- i'm interestee in getting a result hhre. i was here all day yesterdaa and we submitted our lateet proposal at 7pm. last with whhever can help. --vo-- sunday the president made an appearance on meet the prrss 3 calling for a mini deaa if congrrss can't agree on a broader deal bb midnighh.. --sot: p
MSNBC
Dec 31, 2012 10:00am PST
11th hour deal to avoid falling off the fiscal cliff? >> there are a number of issues on which the two sides are still apart, and negotiations are continuing as i speak. >> the vice president and i have worked together on solutions before, and i believe we can again. >> lawmakers work through the weekend. president obama went on "meet the press" to call out mcconnell and house speaker john boehner over tax hikes. >> i think it's been very hard for speaker boehner and republican leader mcconnell to know that taxes should go up as part of an overall deficit reduction. >> a health scare for hillary clinton. new details as the secretary of state undergoes treatment for a blood clot in a new york hospital. >>> ringing in the new year. from sydney to new york city. the world turns the page to 2013. good day. i'm chris live in washington in for andrea today. deal or no deal? as vice president joe biden and senate republican leader mitch mcconnell continue negotiations, we just have learned that president obama will speak about the fiscal cliff at 1:30 p.m. eastern time. with all that happ
MSNBC
Dec 31, 2012 1:00pm PST
-minute deal to avert the fiscal cliff. with sweeping tax hikes and spending cuts set to take effect at midnight, frantic negotiations are ongoing at this hour with the president teasing the prospect of a deal on at least part of the cliff just hours ago. >> it appears that an agreement to prevent this new year's tax hike is within sight, but it's not done. we we're hopeful that congress can get it done, but it's not done. >> so it's not done. in case you missed that, he said it twice, not done. reports of an emerging deal focus on a few key parameters, raising tax rates on couple it's making more than $450,000 a year, increasing the estate tax rate, and extending unemployment benefits for one year. the major sticking point new appears to be sequester spending. while the president said he would prefer a grand bargain, a certain branch of government stood in the way. >> with this congress that was obviously a little too much to hope for. one thing we can count on with respect to this congress is that if there's even one second left before you have to do what you're supposed to do, they will use that last second. >> those remarks might not have helped matters with senator john mccain taking to t
CBS
Dec 31, 2012 4:00am EST
>>> deadline day. a wide-ranging deal to avoid the fiscal cliff remains illusive and washington leaders have only hours to reach an agreement. >>> secretary of state hillary clinton is in a new york city hospital this morning being treated for a blood clot related to her concussion earlier this month. >>> and feats of bravery on a frozen lake. a half dozen people fall through a sheet of life while trying to save a man from freezing cold water. captioning funded by cbs >>> this is the "cbs morning news" for monday december 31st 2012. good morning, everybody, on this new year's eve. good to be with you. i'm terrell brown. secretary of state hillary clinton is being treated for a blood clot. doctors found it following a concussion. marlie hall is at presbyterian hospital this morning. good morning. >> reporter: good morning, terrell. mrs. clinton will spend the morning at the hospital as doctors keep her under close watch. they say she'll be under observation for 48 hours. as you mentioned, a blood clot was mentioned after she came in for a routine exam. it was a follow-up actually
CW
Dec 31, 2012 12:00pm CST
new year. thank you very much. >> appears that a deal is in sight on the fiscal cliff. a deal is not done yet. we may have to solve this problem in several stocks. including a tax credit for families with children the education tax credit. >> he said he would have liked to have gotten a bigger deal done but unfortunately he was not able to do that. this will have to be ruled out in several steps. checking chicagos letter which is kind of great as the final day of 2012. snow passing downstate as you can see on the radar. if you're heading south be aware of that. we may get a flurry but a lot of this hanging up in the clouds over the city. it will be moving out of here tonight. we get into some serious cold there. this low pressure a streaking along fast. high pressure comes in and brings the sun back tomorrow. look at the temperatures and how cold it is out west of us. we've got 310 days without a subfreezing reading. the hundred and 10 days310 days is just not happened before. tomorrow it happens, we go into subfreezing daytime high territory. we bring to an end, a record. live recor
NBC
Dec 31, 2012 5:00am EST
. >> we're less than 24 hours away from going off the so-called fiscal cliff. >> there is still no deal to avoid tax hikes and spending cuts in. >> danielle leigh has more. >> congress is waking up from an intense weekend. >> the senate stands in recess. >> they will not meet again until later this morning. in atre going to come 11:00 a.m. tomorrow morning and we will have further announcements perhaps at 11:00 in the morning. >> hold because of what aides described as constructive movement over the weekend. avoiding a jump in inheritance taxes. republicans dropped a demand to cut social security. >> the consequences are too high for the american people to be engaged. i am interested in getting a result here. >> i think it has been hard for john boehner and mitch mcconnell to accept the fact that taxes on the wealthiest americans should go up a little bit. >> yesterday it was republicans waiting on democrats for a counter offer. >> mitch mcconnell called the vice president for help. lawmakers will scrambled into the final hours. republicans will likely push for reforms they give up this ti
FOX Business
Dec 31, 2012 9:20am EST
trading, one issue and one issue only, that's the fiscal cliff. you can spend a lot of sound bite trading. anybody in any authorities says anything about the likelihood or otherwise of a fiscal cliff deal you will see the market react. it happened earlier this morning. there was a report that maybe these talks between mitch mcconnell and vice-president biden were making some progress. on that, up went the futures market to show a gain of 80 points for the dow. we're back to showing a gain of 50 or 70 points. watch for head lines, for leaks, for any sound bites that might appear on any news program anywhere and you will have some kind of market reaction. as we countdown to the end of this fiscal cliff, i'm going to call it a debacle because that's exactly what it is. even if we get a very, very narrow deal, whoop-de-doo, we have a debt ceiling problem and amt taxes, government spending, all of those problems outstanding, nothing done. the dow jones industrial average is not done up for the opening bell, it's down, we're 42 points, 48 points going down as of right now. 50 points lower. what did you give, what did you get for christmas this year? chances are, a computer tablet maybe? accordin
CNN
Dec 31, 2012 6:00am PST
we'll know if there's a deal on the fiscal cliff or not and what either outcome means for you and your money. we'll talk to sheila bair, former fdic chairwoman. and texas congressman lloyd daggett. so much to talk about tomorrow. i certainly hope a deal has been done. >> nice to work with you. >> are you going to go to times square? >> i'm going to run the park. 2013 starts with a run. i conned my wife into it as well. she'll join me. >> happy new year to you. >> cnn newsroom with suzanne malveaux begins now. >>> happy new year. stories we're watching now. hours by hour, inch by inch, the nation sliding closer to the fiscal cliff. we'll have more on this morning's negotiations and what we'll lose if those talks fail. and workers in some states may see a pay raise but may not notice much of a difference. >>> guns are flying off the shelves after fears of a ban on assault rifles following the sandy hook massacre. we're live at the white house with the latest details. plus this. >> reporter: i'm alina cho in times square, where just hours from now new york will host what is arguably the biggest new year's eve party in the world. number one tip. if you plan to come to times square, dress warmly. it is frigidly cold. "cnn newsroom" starts rig
CNN
Dec 31, 2012 9:00am PST
. the clock is ticking, 12 hours before we hit that fiscal cliff deadline. if a deal is not reached, how is it going to affect us? the tax policy center crunched numbers. here's a couple scenario. if you're single with no kids and you make $50,000 a year, you you see your taxes go up by $1500. now, take a married couple with two kids making $100,000. they would see their taxes go up $5300 a year. i want to turn to christine patrolman m romans in new york to talk about the people that are really, really going to feel this immediately and it's going to have the greatest impact. who are they? >> the first people to feel it are on extended federal unemployment benefits. for them, for 2 million of them suzanne, on december 29th, that was the end of the last week of unemployment benefits for them. so immediately hundreds of dollars a week of unemployment benefits go away. for everyone else, anybody who works at a company and pays payroll taxes, your taxes will rise. it looks like that will happen no matter what. your pay dhek will be p smaller no matter what because the payroll tax withheld wi
ABC
Dec 30, 2012 11:00pm EST
closer deal tonight to avoid the so- called fiscal cliff. what is the latest? no deal tonight in the u.s. senate. continuing, are though, between the vice president and mitch mcconnell. in a rare sunday night session -- i think the enormity of the issue is very clear. >> u.s. senators gathered to solve a self-imposed crisis. their plan to carve out a compromise dissolved. >> there is no simple issue that impossible sticking point. we are willing to make difficult concessions. >> come january 1, tax hikes and budget cuts go into effect. >> regardless of differences, top priority has to be to e that taxes on middle- families do not go up. >> the plan before the senate tax -- would eight prevent a tax increase. clear differences remain. seene odds are we have not the leadership on either side of e to solve this problem. is a contraction economy. loss of jobs which could be well in addition to the people already on unemployment. >> the senate reconvenes 11:00 on monday. the president's heerview earlier today, the issue of guns. the president said the day of newtown shooting was the t of his
CNN
Dec 31, 2012 1:00pm PST
that fiscal cliff. here's what both sides are considering in a potential deal right now. an increase in tax rates for families making over $450,000 a year. extending unemployment benefits. and an increase in the estate tax. the president seemed hopeful but cautious when he addressed the american people earlier today. >> today, it appears that an agreement to prevent this new year's tax hike is within sight. but it's not done. there are still issues left to resolve. but we're hopeful that congress can get it done. but it's not done. >> let's get straight to our chief white house correspondent jessi jessica yellin. she's over at the white house with the very latest. the president seems pretty optimistic that it's within a few hours we could have a deal, right? >> reporter: wolf, the people i just spoke to here say they are no more or less optimistic than they were this morning. which is to say they are not cueing the confetti just yet. senator mitch mcconnell, the republican leader on the hill, is still talking to the white house. the white house is in constant contact with the democratic
CSPAN
Dec 31, 2012 7:00am EST
goes over the fiscal cliff. the calm act.thit it would allow omb to substitute sequester cuts. more than $100 billion in budget cuts across the board. that is something the new congress will have to deal with. less than 17 hours before the deadline. ellen is joining us from washington, d.c. caller: good morning. i did nothing speaker boehner wanted to cut a deal with the democrats anyway. all this stuff is around president bush. it's not all on obama. host: ok. thank you for the call. harry reid said this yesterday. [video clip] >> the republicans have taken the benefit cuts off the table. there is still significant distance between the two sides but negotiations continue. there is still time left to reach an agreement. host: those negotiations moved into the evening. the house coming back at 9:00 p.m. eastern for morning business. votes would happen sometime after 10:00 a.m. front-page of "the new york times." let me read a few sentences. host: that is the front page of "the new york times." good morning from maine. caller: good morning. thank you for taking my call. we have been corralled into involuntary servitude. this has been our history. i do not want to support a military and indus
NBC
Dec 31, 2012 6:00am EST
and still no compromise. the u.s. is just hours away from going over that fiscal cliff. without a deal before midnight, americans will be bringing in this new year with sweeping tax hikes and swing -- a tactic -- and cuts. >> >> t . >> i hope that they can work together and realize that this is affecting everyone. >> both chambers will reconvene this morning at whichthat they k together and realize that this is affecting everyone. >> both chambers will reconvene this morning at which point, there are just 12 hours left until this deadline. >> whatboth chambers will recone this morning at which point, there are just 12 hours left until this deadline. >> what are lawmakers working on today? >> we understand that senator harry reid, the majority leader, will what are lawmakers workingn today? >> we understand that senator harry reid, the majority leader, will reintroduce the pre fiscal cliff, maryland would be hit hard with hundreds of millions of dollars and tens of thousands of jobs lost. >> if america falls off that fiscal cliff, maryland would be hit hard with hundreds of millions of dollars
FOX News
Dec 31, 2012 1:00am PST
going to be blamed if washington doesn't make a deal on the fiscal cliff? we are going to debate that plus, france says no to high taxes on the rich. could the united states learn something from that? we'll analyze that when we come back. ♪ need not wonder why ♪ ♪ no tim ♪ ♪ you're a heartbreaker, dream maker ♪ >> welcome back to a sunday prime time edition of "the five." and as the clock ticks down and going over the so-called fiscal cliff. no deal he yet, but there is some finger pointing going on. >> i'm concerned about the lack of urgency here. i think we all know we're running out of time. this is far too much at stake for political gamesmanship. we need to protect the american families and businesses from this looming tax hike. everyone agrees that that option is necessary. >> i will say this, i think that the republican leader has shown absolutely good faith, but it's just that we're apart on some pretty big issues. >> and senator reid-- >> this has been a blame game from the very, very beginning and dana, we saw today president obama take to the sunday shows and sp
CSPAN
Dec 31, 2012 10:45am EST
anticipating a possible, a possible agreement regarding the fiscal cliff. no deal has been reached yet. senators today will technically be working on a praiseholder -- placeholder bill in the event there is a fiscal cliff agreement. until the deal's reached, we expect we'll hear discussion at least on the fiscal situation. take a look now live on the floor of the u.s. senate, and we'll bring it to you live here on c-span2. the presiding officer: the senate will come to order. the chaplain, dr. barry black, will lead the senate in prayer. the chaplain: let us pray. almighty god, we praise your name. you are high over all the nations and your glory is greater than the heavens. let your spirit move our lawmakers to do your will. teach them valuable lessons from hardships and adversities, as they work to be worthy of the sacrifices of those who have already given so much for freedom. lift them from the darkness of hopelessness so that they may take steps toward your light. may your presence and grace bring comfort, as you inspire them to choose what is right and just. may they take the tid
NBC
Dec 30, 2012 11:30pm EST
cuts kick in. >> i think it is obvious president obama wants us to go over the fiscal cliff. >> president obama blamed republicans. >> they say the biggest priority is making sure they deal with the deficit in a significant way. they are behaving in a way that they're only priority is that the tax breaks for the wealthiest americans are protected. blacks mitch mcconnell is vowing to find out. -- >> mitch mcconnell is vowing to find out. >> can the senate veteran help congress tumble to a deal on the last day? >> if we do go off the fiscal cliff, congress would be more likely to make a deal. members could claim they are cutting taxes. >> thank you. if america does fall off the fiscal cliff on the first of the year, maryland would be hit hard. hundreds of millions of dollars and tens of thousands of jobs lost. >> we have a lot of federal workers and businesses that rely on the federal government. many are watching the negotiations closely. if partisan politics prevail and they cannot reach a deal, americans in maryland will burden will -- will be burdened. legislativent of observances had a report about what the impact would be. if we fall off the fiscal cliff. maryland will lo
CBS
Dec 31, 2012 4:00am PST
the final day of fiscal cliff negotiations. hope of reaching a wide-ranging deal in automatic spending increases and tax cuts is all but gone. spending would be reduced and cuts would be felt in all areas of the government. economies have warned that going over the cliff would cause a spike in unemployment and trigger another recession. this morning the senate reconvenes with the aim of reaching a smaller deal, one that might spare millions of americans from paying her taxes. danielle nottingham reporting now from washington. >> lawmakers are still working on it. >> i want everyo one to know i' willing to get this done but i need dance partner. >> the main sticking point between democrats and republicans continues to be over the threshold of tax increases. president obama campaigned on raising taxes on income over $250,000 while many congressional republicans have pushed back against any tax increases. president obama is placing the blame for the impasse on the gop. >> they say that their biggest priority is making sure that we deal with the deficit in a serious way, but the way they'r
NBC
Dec 31, 2012 4:30am EST
ahead. >>> looking over the fiscal cliff. is a last-second deal even possible? >>> kim kardashian and kanye west expecting a baby. >>> new year's eve preps and the new york giants open their hearts to the families of newtown, connecticut. "early today" starts right now. >>> and a very good morning to you on this new year's eve. it's nice to see you this morning. i'm veronica de la cruz. we begin with secretary of state hillary clinton in the hospital. clinton was admitted to new york presbyterian hospital after the discovery of a blood clot stemming from the concussion she sustained earlier this month. the clot was discovered during a followup exam sunday. she's being treated with blood thinners, and doctors will monitor the medication over the next two days. the 65-year-old clinton fell and suffered a concussion when she fainted while home alone in mid-december as she recovered from a stomach virus that left her severely dehydrated. clinton had been planning to return to work this week. >>> it is crunch time on capitol hill. senate and house negotiators have just a few crucial hours
FOX News
Dec 31, 2012 3:00pm PST
are the house will not vote on any fiscal cliff legislation tonight. here is how the potential deal stacks up. they will be taxed at 39.6%. up from 35%. tax on capital gain and individuals for $400,000 for individuals would increase to 20%. from 15%. the alternative minimum tax is permanently indexed to inflation. it has been annual patch. that would be permanent. the plan extent the child tax red earned income tax credit. up to $2,500 tax credit for collision tuition. unemployment benefit are extented for one year. same for the medicare doc fix and the social security payroll tax cut. reverse to rate of 6.2%. those are the deals as they stand right now. although things are developing and they could change. those looking to europe for inspir ration and coming up with american tax rates that target the rich may have to rethink the strategy based on a ruling by a french court. senior foreign affairs correspondent greg palkot has that story. >> proponents of the high taxes in france took a bit of a hit over the weekend. >> the french constitutional council or court ruled plan 75% tax on those
FOX News
Dec 31, 2012 10:00am PST
negotiation toss try to avoid going over the so-called fiscal cliff. we got word the president is going to talk. we have been getting word over the last couple of phepbts about the framework for a possible deal that has been reached. this is a tentative deal. but it does not at this point involve any spending cuts. it puts off the sequestration, the mandatory cuts that were set to take place if no deal was reached by january 1st. it also includes tax increases, tax rate increases on some upper income brackets. again these are all tentative reports about a possible deal. the president set to speak at about 1:30pm eastern time and we'll carry it for you live right here. arthel: new controversy surrounding the bankruptcy filing by the city of stockton, california. city leaders are apparently going to protect public worker unions at the expense of everyone else. there is a single -- there is a city, we're talking about stockton, a single firefighter there earnses three times when the average family brings in and they can retire at the age of 50 with a pension worth 90% of that bloated salary. instead of making cuts to that kind of over spending stockton is planning to renege on its debt responsibilit
ABC
Dec 31, 2012 5:30am EST
the fiscal cliff. without a deal, taxes are said to go up on every american. sherrie johnson is here with the latest. >>> talks continue this morning about 11:00, so far there is no deal. republicans and democrats negotiated all weekend with the hope of passing legislation that will protect most people from a massive tax hike set to kick in tonight. there was optimism when the republican leader in the senate, mitch mc connell, made an offer, it ended when harry reid said he couldn't precepts a counter proposal. joe biden is playing a direct role in the talks. they remain at odds over the across the board cuts to government programs and defense set to go in to effect. they are divided on taxes. the white house wants to raise rates on people making more than 250,000 dollars a year. republicans would like to keep the estate tax from going over. >> we have to make sure taxes on middle class families don'ts go up that would hurt our economy badly. >> i placed a call to the vice president, to see if he could jump start the negotiations on his side. i want everyone to know i'm willing to ge
MSNBC
Dec 31, 2012 2:00am PST
over the fiscal cliff, last second deal is it possible? kim kardashian and kanye west expecting a baby. new year's eve preps and the new york giants open their hearts to the families of newtown, connecticut. >>> very good morning to you. nice to see you this morning. we begin with secretary of state hillary clinton in the hospital. clinton was admitted to new york presbyterian hospital after a blood clot stemming from the concussion she sustained. cloth was discovered during a followup exam on sunday. she's being treated with blood thinners and doctors will monitor the medication over the next two days. the 65-year-old clinton fell and suffered a concussion and fainted while home alone in december as she recovered from a stomach virus. clinton had been planning to return network this week. >>> it is crunch time on capitol hill. senate and house negotiators have a few crucial hours left to come up with a compromise to avert the looming financial mess. if they don't here's what will happen. everyone's tax rates will go up. $1.2 trillion in federal spending cuts kick in. the payroll tax h
FOX
Dec 31, 2012 4:25am EST
less than 24 hours to come up with a solution to the looming fiscal cliff. the senate will meet again later on this morning to continue their talks following a rare marathon meeting yesterday. on meet the press, president obama called on lawmakers to reach an agreement. if no deal is made, it would be the large of the tax hike since world war ii. >>> secretary of state hillary clinton remains in a new york city hospital this morning after doctors discovered a blood clot stemming from a concussion she had earlier this month. now, a spokesperson for clinton says she is being treated with medication and will most likely stay in the hospital for the next 48 hours. the clot was discovered yesterday during a follow-up appointment. >>> same-sex couples in maryland will be able to marry tomorrow on new year's day. state lawyers said because january 1st is a holiday and because there is a two-day wait period for licenses to take effect, they could not marry until january 4th. the state's attorney general now says all of the licenses will take effect tomorrow. >>> 2012 was another tough year for the economy. >> so it is no surprise that lottery sales were up. fox's claudia cowan has a look for us. >> are you going to walk away with it? let's find out u. >> reporter: even wh
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